The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1887-05-11
RICH AS CR0ESUS.
NEW YORK A CENTER FOR MEN
OF GREAT WEALTH.
Jay Gould and the Vanderbilts
Lords of Real Estate-Capi-
talists From California
Oil Kings and Others.


Oil Kings and Others.
The most striking feature in modern
wealth, writes New York correspondent
of the Troy Times, is the rapid increase
in personal property. In old times this
was hardly known. For many years this
city had but half-dozen banks, and the
railroad system had not then been
dreamed of. Now, however, we have q
class of capitalists whose preference is for
personal property. Jay Gould has $780,
900, 900 thus invested, and the Wander
bilt estate is of thrice that amount. Rus
sell Sage's millions are in the same shape,
and the record might be almost in
definitely extended. Those who become
interested in personal wealth avoid real
estate because of its inevitable vexations.
They prefer to have their property in a
shape that will yield dividends without
the trouble of paying taxes and running
after rents. The Vanderbilts, for instance,
have wealth enough to own q thousand
houses, but what burden such an estate
would be to men who are accustomed to
receive dividend checks without any
greater labor than writing their names!
The real estate lords are the result OF
habit. The Astors, for instance, find the
| care of 1000 houses no greater burden
than bank shares, for they have become
accustomed to it from early life. Among
the prominent real estate names the As
tors, of course, take precedence. Then
come the Goelets, the Hendrickses and
the Lorillards, together with Hamilton
Fish, the Rhinelandcrs, the A. T. Stew
art estate and Amos r. Emo, who is now
the oldest real estate operator in
America. He is now nearly eighty three,
but is as eager as ever for good bargains,
and his name was recently called off
among the lucky buyers at the real estate
exchange. The Astors are the hardest
workers among the leading real estate
holders, for their rule is to keep their
property improved to its highest ca
pacity. They employ several architects,
for man may be an expert in planning
stores, while another one is equally ex-
pert in dwellings, and for the same
reason they employ number of builders.
They have had from forty to sixty build
ings going up every year during the past
half century.
California wealth has long been felt in
Wall street, but it is only of late years
that capitalists came from the land of
gold to seek residence in the metropolis.
| One reason for this is found in the fact
that all values on this continent are esti-
mated by their proximity to New York.
The nearer the better; and carrying out
this rule the best thing would be personal
residence in the great financial centre.
In this manner G. P. Huntington, D. O..
Mills, together with Dillon and others,
have come hither and formed new
power in Wall street. The oil kings, led
by the brothers Rockefeller, are also here
with their millions. The Rockefellers
got control of all the oil and then tried to
monopolize the sulphuric-acid business,
but with what success is not yet known.
Another vast extent of personal property
is found in the express business, whose
capital is now thirty millions-the lead
ing representatives of which are John
Hoey and William B. Dinsmore. Both
began poor, but are now worth each his
millions, and are accumulating now faster
than over.
David D. Field, S. L. N. Barlow, and
Judge Hilton are the richest lawyers in
the city, the latter being estimated at
$40, 900, 900. The Stewart building alone
| is worth $3,OOO,OOO. Hilton is one of
the luckiest persons that ever came to
seek his fortune in New York. Had he
depended on his profession he might have
been worth $50, 900, but he has piled up
millions through the legacy Stewart left
him and the opportunities given him by
the widow. Looking at other members
of the profession, the Couderts are max
ing money very rapidly, and so is H. L..
, Clinton and also Roger A. Prior, together
with some other popular and gifted mer.
Turning from law to journalism, it may
!, be said that Bennett and George Jones
are both millionaires. Bennett spends a
great deal of money, but still lives within
his income, and it is supposed that he
invests his surplus in government bonds.
George Jones lives plainly, and probably
also invests his surplus in either govern
ment or railway bonds. Bonner is worth
more than million, all of which he made
out of the Ledger. He has large landed
property both in city and in the country,
and the Ledger plant is worth $500, 900.
Dime-novel George Munro is also mill
ionairc, and so is Whitelaw Reid, in
, Guiding his wife, who holds the largest
part of the family wealth.
The Harper and the Appleton houses
are each worth two millions, and yet
they We're founded by poor men who had
no capital but honest industry. August
Belmont is the richest of Wall street
bankers. Charles Tiffany is millionaire
eweler, and Delmonico is the millionaire
caterer. Ned Stokes is the richest hotel
keeper, and is by some estimated close to
million, but his money was not all made
in the hotel as he-is heavy holder of
telegraph stock John H. Starin is the
millionaire of steamboat fame, but in ad-
aition to his floating wealth he owns hum
ireds of acres of land, is director in
several banks, and has also large amount
Of real estate in this city. New York
does not lack of capitalists, but while
thus referring to the favored names, how
sad it is to recall the fact that for each
Of these rich men there must be 10, 900
poor, many of whom are people of great